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Financing Now Easily Available for Solar Energy Installation for Homes & Businesses

With the rising cost of electricity, the dropping prices of solar energy equipment and the adverse effects of climate change, it is now more viable for Filipinos to adopt solar energy to power their homes and businesses.

Last 17 August 2016, Greenpeace Philippines gathered financing institutions and solar providers to connect energy consumers to easy financing options available in the market and help increase solar energy use in homes and businesses at the Pandesal Forum at Kamuning Bakery, Quezon City.

You can now easily recover the investment in solar energy setup cost in less than 5 years. The initial investment required can now be easily financed by private banks or Pag-ibig Funds as a home improvement project.

Solar rooftops, in particular, can create huge impacts in lowering monthly electricity bills and the growing availability of financial assistance for those who want to avail of solar installations is a great opportunity to harness the power of the sun and break away from our dependence on fossil fuel generated electricity, like coal which is a factor in climate change.

“Now is the best time to switch on the power of renewables for each home and business to be at the forefront of our fight against catastrophic climate change. The call for the uptake of solar energy is not an empty appeal to each individual’s altruism but, as we are attesting today, incentives await in the form of cheap and reliable energy. Financial solutions are widely available from many institutions, and after today, we are expecting more. For both homes and businesses, renewable energy is the way to go,” said YebSaño, Executive Director of Greenpeace Southeast Asia.

“It is important to note that while large-scale solar power plants are being constructed and going online in the Philippines, there is still a huge amount of solar energy potential that remains untapped. This is where solar rooftop installations on homes, schools, hospitals, and businesses can complete the picture of a country like the Philippines moving towards a higher share of renewable energy in its power generation mix. The energy revolution will happen right on the rooftops of Filipinos’ homes,” said Reuben Muni, Climate and Energy Campaigner of Greenpeace Southeast Asia Philippines.

Muni also called for a more robust participation of both the government and business sector to further push the growth and development of renewable energy in the country.

“A strong relationship between the public and private institutions, as well as progressive legislation, should boost our transition to renewable energy. It encourages and provides incentives to more people and businesses who opt to use the technology,” Muni added.

Greenpeace Philippines is joined by speakers from Home Development Mutual Fund (PAG IBIG Fund), who discussed how its members can avail of their Home Improvement Loan, which can cover the cost of purchase and installation of solar panels. Also in the forum are Solaric Philippines, Solar Philippines and Bank of the Philippine Islands.

Wilson Lee Flores, columnist and owner of the Kamuning Bakery Café, also shared how his decision to use hybrid or partly solar-powered air-conditioning system in the 77-year-old café drastically lowered his monthly electricity bills.

The media forum is part of the Solar Rooftop Challenge, which highlights the benefits of using solar energy while busting misconceptions that hinder individuals and companies from taking it up. It showcases existing solar rooftop installations of urban middle class households, celebrities, churches, schools, government buildings and private establishments, as well as empowering stories of people who have joined the solar rooftop revolution in the country.